Oravel Stays Limited 'OYO' IPO 2026 Review: Date,Share Price,lot size,Financials and Valuation

Oravel Stays Limited - the company behind the well-known hospitality brand OYO - is one of India's leading technology-enabled hospitality platforms. Founded back in 2012 by Ritesh Agarwal, Oravel Stays now has a full suite of platforms that connect hotel owners, homeowners & travellers all over the world. The OYO brand has a pretty impressive portfolio of brands including Townhouse, Collection O, Capital O, OYO Home, Belvilla, DanCenter & Motel 6. Oravel Stays lately changed its own corporate identity to PRISM, but OYO is still the name that most people know.

Oravel Stays Limited IPO Details

After years of going back & forth with the regulators, Oravel Stays finally got the nod from SEBI for an IPO all the way back on 2 June 2026. That's the third time OYO has tried to go public, following stints in October 2021 & April 2023 when the company had to pull its draft papers due to SEBI asking for changes. This time around though, OYO has got a lot of things sorted : a much better financial position a leaner ask from investors & a much more realistic valuation in its sights.

Particulars	Details
IPO Type	Mainboard IPO
Listing Exchange	BSE & NSE
Face Value	₹1 per equity share
Issue Size	Proposed fresh issue of up to ₹6,650 crore (latest approval)
Earlier DRHP Size	₹8,430 crore including fresh issue and OFS
Price Band	Yet to be announced
Lot Size	Yet to be announced
IPO Dates	Not announced
Listing Date	To be announced
Registrar	MUFG Intime India Pvt. Ltd. (formerly Link Intime)
Status	IPO under process / confidential filing stage

Oravel Stays Limited IPO Dates

• IPO Open Date: Awaited
• IPO Close Date: Awaited
• Basis of Allotment: Awaited
• Refund Initiation: Awaited
• Listing Date: Awaited

Grey Market Premium (GMP) and Unlisted Share Market Price

Over the past four years, the unlisted equity markets have been a crucial part of figuring out the pricing of Oravel Stays. With the news of the regulator finally giving the green light, we've seen a pretty big jump in trading activity on pre-IPO platforms.

Current Unlisted Share Price Range: The price has been fairly steady, stuck between ₹22 and ₹27 per share, with a face value of just ₹1.

What the Market is Saying About Oravel's Value: If you look at the current private market share price, it suggests that Oravel's implied market value is somewhere between $3.5 Billion and $4 Billion. That's a pretty big drop from the $10 billion it was valued at in private funding at its peak, which should give a more realistic picture for the public market.

Estimated GMP So Far: Market watchers suggest that the premium is looking a bit more optimistic than it was, with a roughly ₹13 per share shadow premium - although we won't know for sure until they actually declare the price band.

Oravel Stays Limited IPO Issue Size - Update

The IPO has gone through a lot of changes over the years and its size has been revised multiple times.

• Fresh Issue: they are looking to raise up to ₹6,650 crore.
• Total amount they're allowed to raise: also up to ₹6,650 crore.

What the DRHP Proposed Earlier

• The original plan was for a IPO of ₹8,430 crore.
• Breaking that down - ₹7,000 crore was for fresh issuance and ₹1,430 crore was set aside for an Offer for Sale.

At the moment the new proposal seems to be more about raising primary capital for the company rather than giving existing shareholders an exit route.

Oravel Stays Limited IPO Price Range

IPO Price Band is not announced yet.

Oravel Stays Limited IPO Lot Size

IPO Lot Size is not announced yet.

Financial Performance & Statement Analysis

Consolidated Profit & Loss Highlights in Crores.

Financial Metric	FY 2024-25	FY 2023-24	FY 2022-23
Total Income	₹6,325.89	₹5,541.59	₹5,601.70
EBITDA	₹1,083.50	₹887.81	₹256.50
EBITDA Margin (%)	17.53%	16.02%	4.58%
Net Profit After Tax (PAT)	₹244.82	₹229.58	₹(1,286.52)
Basic Earnings Per Share (EPS)	₹0.35	₹0.36	₹(1.93)

Key Balance Sheet & Cash Flow Inferences

• The Long-awaited Turnaround: Oravel has finally, back to back, managed to stay ahead of the game by posting two years of actual profits (PAT) in FY24 and FY25, putting the financially crippling losses of FY23 firmly in the past.
• Revenue Growth: Revenue is creeping up, at a pretty measured pace of 14.1% in the last fiscal year but to be honest, profits are being driven by the company getting its internal house in order and finding some much needed efficiency gains, rather than some massive jump in market share.
• Cash in the Bank: Oravel is finally starting to see some real cash flowing in, with operating cash flows turning positive at ₹321.25 Crore in the latest year, giving the company a much needed cash float to work with.

Investment Thesis: The Pros vs Cons

Positive Side

• Amazing Turnaround Story: They went from being over ₹1,280 Crore in the red to actually making a profit - shows that when they get things right, their whole business model starts working like it should.
• Asset-Light Business Model: Because they don't own loads of property, they can grow their inventory without having to shell out heaps of extra cash.
• The Value of a Good Brand: They've got one of the most well-known brands in travel, which means that new customers are cheap to get - way cheaper than for new companies that have to spend loads promoting themselves.
• A Good Starting Point for Valuations: By lowering those target expectations to $3.5–4 Billion - that's a big ask for investors, leaving room for growth for people like us.

Negative Side

• Revenue Hasn't Been Growing Much: Historically, revenue has just sort of hung in there - so if we want long-term growth, we need either a revival in the core market or something big to happen through cross border expansion.
• Losing Control of Our Own Destiny: Oravel doesn't actually control the property they use - so disagreements with property owners, or losing lots of those boutique hotels, could be real problems.
• The Law of the Land Keeps Changing: The short-stay and vacation rental market out there - it's a minefield of changing local rules and regulations, especially in Europe.

IPO Management & Corporate Governance

The deal's getting some serious muscle: a top-notch team of global Book Running Lead Managers (BRLMs) is lined up to make this one a success:

Kotak Mahindra Capital Company Limited.

JM Financial Limited.

Citigroup Global Markets India Private Limited.

J.P. Morgan India Private Limited.

Nomura Financial Advisory and Securities (India) - another heavyweight coming in to lend their expertise.

Promoter Profile & Registrar Details

Ritesh Agarwal seems to be driving this one with a 30-33% stake post-restructuring alongside some serious backing from RA Hospitality Holdings (Cayman and SoftBank Group who will still hold a significant chunk ( around 46% pre-IPO equity) of the company.

Link Intime India Private Limited is the chosen registrar to make sure everything runs smoothly.

Registered Office Address:- Ground Floor-001, Mauryansh Elanza, Shyamal Cross Road, Ahmedabad, Gujarat.

Email add:- investors@oyorooms.com

Final Views

Oravel Stays Limited has made a complete U-turn on its investment case since its ill-fated 2021 draft filing. Institutional investors in the public markets are getting increasingly wary of tech startups listing at high prices based on promises of huge growth and burning through cash. However, OYO's aggressive drive to clean up its operations has really paid off - they've effectively shut down their loss-making room portfolios in places like China and shown two full years of actually turning a healthy profit.

As a result, the entry price for investors in OYO is suddenly a lot more realistic - around $3.5-4 Billion right now. Smart investors - both retail and institutional - will be keeping a very close eye on the price range that OYO ends up listing at. If they can manage to price themselves fairly against listed companies like MakeMyTrip that are in the same space, or even traditional hospitality networks, then this could be a great turnaround investment. But investors who are looking for super fast growth in revenues had better wait for OYO to come up with a real plan to get that growth ball rolling.

Rodec Pharma IPO Review 2026: Dates, Price Band and Issue Size

Rodec Pharma, a veterinary healthcare outfit, makes animal feed supplements & markets veterinary prescription meds. They are out to help livestock farmers & the likes - vets, distributors and animal hospitals - all over the country in India.

Founded way back in 1997, in Ghaziabad, Uttar Pradesh, Rodec Pharma used to be all about marketing but over the years it's built up into a proper animal healthcare company with a feed supplement factory of its own. Their portfolio has grown to 35 products across loads of different therapeutic and nutritional areas, with a whopping 29 different flavours/variations to boot.

They filed their Draft Red Herring Prospectus with SEBI back in January 2026, & have just got the thumbs up from SEBI after all that, so now the public issue is all set to go ahead.

Rodec Pharma IPO Details

Particulars	Details
IPO Type	Book Building Issue
Listing Exchange	BSE & NSE
Face Value	₹10 per equity share
Issue Structure	Entirely Offer for Sale (OFS)
Shares Offered	56.50 lakh equity shares
Lead Manager	Khambatta Securities Limited
Registrar	Bigshare Services Private Limited
IPO Open Date	Yet to be announced
IPO Close Date	Yet to be announced
Price Band	Yet to be announced
Lot Size	Yet to be announced
Issue Size	To be determined after price band announcement

Rodec Pharma IPO Dates - What We Know So Far

By June 2026, Rodec Pharma has still to make public the official dates when the IPO will open and close. If you're an investor, you'll want to keep an eye out for the Red Herring Prospectus (RHP) and any notifications from the stock exchange that will have the final details.

The Full Picture On Price Band and Lot Size

As of now, we don't have any information on just how much the shares are going to cost or what the minimum number of shares investors will be able to buy. The details on these points should become clearer as the IPO gets closer to launching and will be included in the RHP once its finalised.

Issue Size and Offer Structure

One of the key takeaways when it comes to the Rodec Pharma IPO is that it's an all-seller game where the 56.50 lakh equity shares are being put up for sale by promoter Mukesh Kumar Gupta. Since there isn't a new issue of shares part of this IPO, Rodec Pharma itself will receive no cash from it. All the cash will go to the seller. Mainly though, the IPO is about getting the company a stock exchange listing and giving existing shareholders some cash.

Rodec Pharma Products and Business Model

Rodec Pharma operates in the animal healthcare industry and focuses on products aimed at improving livestock health, productivity, and nutrition.

Its product portfolio includes:

• Veterinary antibiotics
• Anthelmintics
• Antispasmodics
• Analgesics and antipyretics
• Ectoparasiticides
• Animal feed supplements
• Nutritional formulations for livestock

The company markets products through a widespread distribution network covering Uttar Pradesh, Maharashtra, Haryana, Punjab, Gujarat, Rajasthan, Madhya Pradesh, Telangana, Bihar, Jharkhand, Assam, Uttarakhand, Himachal Pradesh, West Bengal and other states.

Rodec Pharma Financial Performance

Profit & Loss Statement in Crore.

Financial Year	Revenue	PAT
FY 2023	71.72	5.21
FY 2024	89.61	11.04
FY 2025	108.19	18.26
FY 2026 (Sep 2025)	63.71	9.73

The company has demonstrated strong earnings growth over the last three financial years.

• Revenue increased from ₹71.72 crore in FY23 to ₹108.19 crore in FY 25.
• Net profit increased from ₹5.21 crore to ₹18.26 crore during the same period.
• FY25 profit growth exceeded 65% year-on-year.

Balance Sheet Highlights in Crore.

Financial Year	Total Assets
FY2023	44.13
FY2024	50.62
FY2025	71.99
Sep 2025	78.07

Key Financial Ratios

Metric	FY2025
Return on Net Worth (RoNW)	36.49%
Return on Capital Employed (ROCE)	40.94%
EBITDA Margin	24.21%
PAT Margin	17.16%
Debt-to-Equity	0.17x
EPS	₹8.08
NAV	₹22.15

These numbers speak to a business that is both profitable and in a good financial position - the kind of situation where you can earn a decent return on the money you have invested the company, and you're not taking on too much debt while doing it.

What Rodec Pharma does well?

A track record of business growth

Rodec Pharma has been posting steady revenue and profit increases over the last three years, and that's largely thanks to a growing demand for its products in the livestock healthcare market.

Financials that are hard to ignore

The numbers on profitability - RoNW at 36.49% and ROCE nudging 40% - show that the company is making the most of the money it's got, and that stacks up pretty well against its competitors.

A healthy animal health industry

The Indian animal health market looks set to keep on growing, thanks to a rising livestock population, people eating more dairy products, government efforts to prevent disease, and a growing awareness of the importance of animal nutrition.

A diverse range of products

The company works across two main areas - pharmaceuticals and animal nutrition - so if one area of business happens to slow down, there's still plenty of potential elsewhere for Rodec Pharma to make sales.

A strong network of suppliers and customers

Rodec Pharma has a presence in lots of different states, which gives it a big customer base and means it's well placed to expand into even more areas in the future.

Risks and Concerns - Things That Might Keep You Up at Night

Entire IPO is an OFS - Not Exactly a Cash Cow

Since the whole IPO is just an offer for sale, it basically means the company isn't getting any fresh capital to help it grow, cut debt or drive business forward. That's a pretty big drawback as far as the company's finances are concerned.

Lean on Third-Party Manufacturers

The fact that a lot of its veterinary pharmaceutical products come from third party manufacturers creates some pretty real operational and supply chain risks.

Down on Luck with Geography

Surprisingly, a lot of its revenue comes from Uttar Pradesh which could make it vulnerable to any regional specific market or regulatory ups and downs.

Not Long Enough in the Factory Game

Its in-house manufacturing only kicked off in December 2022, so right now investors don't have a lot to go on when it comes to judging the company's manufacturing performance over time.

Not the Research & Development Star You Might Think

To be honest - the company doesn't really do that much in-house R&D - which might hold it back long term in a pretty fast moving pharmaceutical market.

Expert Review and Verdict

From the very start, Rodec Pharma Limited looks like a business with a solid foundation , running a business model that's well set up to thrive in a pretty defensive and extremely high-demand sector. For India's massive rural economy, livestock health and dairy optimisation are just two costs of doing business that people can't really avoid - and that gives the company some good protection from all the ups and downs of the wider economy.

The Verdict

The success or otherwise of this public listing will all come down to how the company is valued in the end. Because it's an OFS (which is a pretty aggressive way to get listed, to be honest), if they price it too high at the start then it's likely that investors who get in at the beginning won't make a lot of money by the time the market has settled down. So, anyone looking to invest should probably just wait to see the RHP filing and then take a good hard look at the price band they're offering against the company's actual earnings per share (EPS) - and do that over their actual annual earnings , rather than just estimates. If the company gets a fair price in the end - and that's relative to some of the bigger players in the animal health space - then they've got a great track record to show for it, and that's definitely worth considering for long-term investors looking to keep some money in the market.

Kalyan Jewellers Secret Supplier Deepa Jewellers Is Going for IPO, Is This Massive Gold IPO Your Next Multibagger?

Hyderabad's very own B2B jewellery powerhouse Deepa Jewellers Limited has just got the green light from the capital markets watchdog SEBI to start selling shares to the public through an initial public offering (IPO). Back in late December 2022, the company dropped off its Draft Red Herring Prospectus (DRHP) and after a wait that went on into May 2023, they finally got the thumbs up from the regulator. With this IPO on the horizon, the book-built issue will likely pave the way for Deepa Jewellers to start trading on both the BSE and NSE stock exchanges.

Deepa Jewellers Ltd : IPO Key Details

As the business shrinks the regional player tag and grows into a full-on corporate giant, here's the lowdown on what we can expect from its public offer:

IPO Parameter	Details & Metrics
Face Value	₹2 per Equity Share
IPO Price Band	To Be Announced (TBA)
IPO Lot Size	To Be Announced (TBA)
Fresh Issue Size	Up to ₹250 Crores (₹2,500 Million)
Offer for Sale (OFS)	Up to 1,18,48,340 Equity Shares
Total Issue Size	To Be Announced (TBA)
Listing Exchanges	BSE & NSE (Mainboard)
IPO Registrar	Bigshare Services Private Limited
Lead Manager	Emkay Global Financial Services Limited

Deepa Jewellers Ltd IPO Dates

Deepa Jewellers Ltd is still waiting to officially announce the exact dates for when the public issue will open, close, have allotments made, and actually list on the stock exchange - in other words - it's all still up in the air (TBA). Since SEBI gave the company the green light recently, expect the company to make their official schedule public very soon.

Deepa Jewellers Ltd IPO Lot Size & Investment

We still don't know exactly how many shares will be included in each application, but we can expect the minimum amount that any retail investor will have to put up will likely be around the usual between 14 to 15 thousand rupees.There is a retail maximum cap of 2 lakh rupees.

Deepa Jewellers Ltd IPO GMP (Grey Market Premium)

The actual price of Deepa Jewellers stock in the unofficial grey market is still listed as coming soon since the official price range for the IPO hadn't been decided yet.

Financial Performance: Balance Sheet & Profit Loss

Profit & Loss Statement Summary (₹ in Crores)

Financial Metric	H1 FY26 (Ended Sep 2025)	FY25 (Ended Mar 2025)	FY24 (Ended Mar 2024)	FY23 (Ended Mar 2023)
Total Income	812.25	1,400.10	1,025.73	921.71
EBITDA	—	56.01	35.77	33.07
Profit After Tax (PAT)	48.61	40.58	24.34	22.02
PAT Margin (%)	5.98%	2.90%	2.37%	2.39%

Balance Sheet Items & Key Indicators (₹ in Crores)

Balance Sheet Metric	H1 FY26 (Ended Sep 2025)	FY25 (Ended Mar 2025)	FY24 (Ended Mar 2024)	FY23 (Ended Mar 2023)
Total Assets	307.72	226.54	172.93	147.28
Net Worth	202.42	153.71	113.34	89.24
Total Borrowings	99.48	80.79	77.93	83.45
Debt-to-Equity Ratio	0.49x	0.53x	0.69x	0.93x

Financial Key Takeaways:

The company revenue really took off, leaping from ₹921.71 Crores back in FY23 all the way up to a pretty impressive ₹1,400.10 Crores by FY25. And I'll throw this out there : in the first six months of FY26 (H1), the company actually saw a Profit After Tax of ₹48.61 Crores - that's a whole lot more than what they managed to scrape together for the entire previous year. Plus, management has been hard at work reducing the company's debt problem by knocking its Debt-to-Equity ratio down from a not so pretty 0.93x all the way down to a much more comfortable 0.49x, showing just how aggressively they are working to pay down that debt.

Deepa Jewellers IPO: The Upside and Downside

Every IPO has its own set of pluses and minuses. Weighing these for and against gives a good idea of the company's overall health and prospects.

What's the Appeal?

• Credibility is Built In: We've got a tie-up with some of India's biggest jewellers - folks like Kalyan and Joyalukkas. That gives us a pretty good idea of how our institutional sales are going to shape up.
• We Keep it Lean: With our artisan network setup on an outsource basis, we don't have to worry about sinking a lot of money into manufacturing facilities or showrooms.
• Top Performer: The RoNW and RoCE we posted in FY25 - 35.95% and 31.32% respectively - puts us right up there with the best in the industry.
• The Money Going Straight to Work: Out of the ₹250 Crores we're putting out there for the IPO, a huge chunk of it - ₹215 Crores to be exact - is earmarked for working capital and expanding into southern India.

What to Watch Out For

• All Eggs in One Basket: 98% of our business comes from a tiny region of Southern India. And if that region dips, we're going to be in trouble.
• One-Two Punch: 72% of our sales come from just two product lines - vaddanams and those CNC-cut bangles. That really puts us at risk if either of those start to dry up.
• Mercy of Our Contractors: Because we outsource all our production, we're completely dependent on the third-party guys who do the actual work. Any problems with them - and we're in a world of trouble.
• Cash Flows - Unpredictable: We've had a bit of a problem with cash flow in the past - mainly because we've had to tie up a lot of capital in gold and inventory.

Deepa Jeweller IPO Allotment Status

Once the biddings are done and the allotment finally gets sorted, investors can check their application status online - it's that simple really.

All About Checking Allotment Status:

Using Bigshare Services Registrar Portal: Head over to the Bigshare Services website where they track IPO allotments & pick "Deepa Jeweller's Limited" from the dropdown list, then just enter either your PAN number, application Number or DP ID & Client ID. it's all pretty straightforward.

Checking Through the Exchanges (BSE/NSE): Alternatively, log in over at BSE, make sure the issue type is set to 'Equity' enter your application details, have a go at the captcha and your good to go.

Company Profile: Who is Deepa Jewellers Ltd ?

Deepa Jewellers Ltd was set up back in May 2016, and it's their Hyderabad office that really runs the show. Deepa Jewellers Limited is a business-to-business (B2B) outfit that is a bit different to the usual sort. They specialise in creating, processing and supplying hallmarked 22-karat gold jewellery - to put it simply - gold ornaments that have actually been checked to make sure they're the real deal.

Unlike the run-of-the-mill high street jewellers that sell straight to the public, Deepa Jewellers has an asset-light wholesale distribution model. In other words, they act as a kind of middleman, working with big jewellery chains like Kalyan Jewellers, Joyalukkas and Tribhovandas Bhimji Zaveri (TBZ) - as well as 272 individual stores - providing them with the gold ornaments they need to sell on to their own customers. With 315 customers now on board and operating all over 13 Indian states and even a union territory, the company has got a pretty impressive client base going on.

Product Portfolio & Operations

Instead of having to manage all the manufacturing costs in-house, Deepa Jewellers has opted for what you might call an outsourced 'factory-without-the-factory'. By teaming up with around 40 specialist makers - each one a skilled craftsperson - the company can keep its costs down, and scale up production whenever it needs to.

Core Specialties: It's South Indian wedding and festival jewellery that's Deepa's bread and butter. They make some crack stuff - vaddanam (those fancy waist belts) and all sorts of bangles that have been cut on CNC machines. And get this - these two product lines brought in a whopping 72% of all sales during the first half of last year.

Secondary Offerings: There's some traditional necklaces, armlets, necklaces for men, earrings and a bunch of other stuff too - and they also do a bit of job work, where customers bring in their own gold and the company will craft it into whatever they want. Deepa Jewellers also has a sideline in silver ornaments, precious stones, and 18-20 karat gold jewellery.

The Final Word & Investment View

Deepa Jewellers has got it going on - it's got a great story going on. It's got a big chunk of the B2B gold market and that's a nice spot to be in, especially in South India where weddings are a big deal. The numbers are looking good too - they are really showing some nice profit margins and even paying down their debt.

The Bottom Line: Deepa Jewellers has got some nice fundamentals going on. But the price of this IPO is going to be the real deciding factor. If they price it right - ie not too high compared to places like Sky Gold or Shanti Gold - then it could be worth taking a punt on.

(FAQ) Frequently Asked Questions

1. When will the Deepa Jewellers Ltd IPO open for business?

The opening date still hasn't been announced - and the issue is still waiting for its final public dates to be confirmed

2. What's the size of Deepa Jewellers Ltd IPO?

The issue is putting out up to 250 crores worth of fresh shares, & also offering up to 11,848,340 of their existing equity shares for the public to buy

3. What is the price range for buying into Deepa Jewellers Ltd IPO?

At the moment the price band hasn't been announced yet

4. What's the minimum amount of shares I can buy into Deepa Jewellers Ltd IPO?

The lot size still hasn't been officially finalised

5. Who does Deepa Jewellers Ltd go to for the regulation of their IPO?

The company is working with Bigshare Services Private Limited for all the IPO regulatory stuff.